Upon the proposal of the Deposit Guarantee Fund, the National Bank of Ukraine issued Resolution No. 280 of 21 April 2016 and Resolution No 284 of 22 April 2016 on withdrawal of the banking license and liquidation of SOFIYSKIY PJSC and PETROCOMMERCE-UKRAINE BANK PJSC.
Following the decision to declare PETROCOMMERCE-UKRAINE BANK PJSC a problematic bank, the regulator revealed evidence of the bank's failure to execute customers’ transactions in due time as mandated by laws and regulations. As of 16 March, the value of outstanding transactions exceeded 30% of the bank’s liabilities. In view of the above, pursuant to paragraph 3 of part 1 of Article 76 of the Law of Ukraine On Banks and Banking, the NBU Board was obliged to take a decision to declare this bank insolvent. On 17 March 2016, PETROCOMMERCE-UKRAINE BANK PJSC was declared insolvent.
On 22 December 2015, the NBU declared BANK SOFIYSKIY PJSC insolvent due to the loss of liquidity. The Bank’s qualifying shareholders failed to take timely measures to provide sufficient funding to prevent the bank from slipping into insolvency. The search for investors did not bring any results either. The bank's failure, for five working days running, to fulfill 2% or more of its liabilities before depositors and other creditors led the NBU to declare BANK SOFIYSKIY PJSC insolvent pursuant to paragraph 3 of part 1 of Article 76 of the Law of Ukraine On Banks and Banking.